topic I am a rental sole proprietor LLC with expenses such as truck, phone, home office. Can I deduct this under E rather than C? If so, how - against which property? in Investors & landlords

I am a rental sole proprietor LLC with expenses such as truck, phone, home office. Can I deduct this under E rather than C? If so, how - against which property?

rgoodric — Wed, 05 Jun 2019 22:05:21 GMT

I have done Schedule C in the past, but if I have no income on the C since it is all reported on the Schedule E, what I am writing those expenses against? Should I instead write general (ie non-individual property specific) expenses such as the truck against a specific property or divided equally under "other expenses" in each?

It depends - You will want to claim the truck expenses on...

DS30 — Wed, 05 Jun 2019 22:05:22 GMT

It depends - You will want to claim the truck expenses on Schedule E against each property individually based on the usage that related to each property.

As for the phone and home office, you would only be able to claim these if you used them exclusively for your rental property. You would need to determine your home office expense/business phone usage expense and allocation evenly to each property (under the miscellaneous expenses under each property).

thanks! That is what seemed intuitively correct to me, b...

rgoodric — Wed, 05 Jun 2019 22:05:24 GMT

thanks! That is what seemed intuitively correct to me, but I had been doing a Schedule C. I will discontinue that and balance those expenses as above on the Schedule E.